HOLLOWELL PARK PROPERTY SYNOPSIS

Transcription

1 HOLLOWELL PARK A MIXED USE VILLAGE HABITAT DEVELOPMENT PROPERTY SYNOPSIS Property Location: Description: City of Atlanta, Georgia Fulton County 3 Tracts of Land fonning a rectangular comer, facing Donald Lee Hollowell Parkway NW, between Commercial Avenue and Woods Drive I Existing building with 3 commercial units and attached storage areas in the rear of the building. Currently rented. Acreage: Zoning: acres Exhibit A Planned Development - Multi Use (PDMU) Price: Appraised Value: $ 1,765,000 As is with development plans $ 2,700,000 As Is Oracle Real Estate Services, LLC, March 2008 * * * * * * * Area Land Value Comparables: Exhibit B (A land value comparison summary is available upon request) 2748 Donald Lee Hollowell Parkway 1394 Northwest Drive 1003 Margaret Place 2011 Bolton Road 1839 Hollywood Road * * * * * * * Engineering and Development Overview: - Some engineering has already been accomplished. - A Hydrology Study was completed August 2007 by FocalPoint Engineering, Inc. - Proposed project conceptual of: Exhibit C 52,000 sq.ft. for commercial retail and restaurant with 83, 104,000 sq.ft. of multi-family dwellings 64 Townhome pads 3 Residential lots - Developmental Pro Fonnas: Available on request Projected sales and profits returns range from 40% to 68%

2 ADDENDUM JANUARY I, 2011 OWNERS MUST SELL AND WILL CONSIDER ALL PRICE OFFERS AND ARE OPEN TO THE following POSSIBILITIES: SINCE PROPERTY IS ZONED MULTI-USE, IT IS POSSIBLE TO SUBDMDED AND SELL INDMDUAL PARCELS front 2+ ACRES ARE COMMERCIAL AND CAN BE SOLO SEPARATELY from BACK SECTION, NOW PLANNED for CONDOS, TOWNHOMES, AND A few SINGLE family HOMES ~ A NEW APPRAISAL for TODAY'S MARKET VALUE CAN BE ACQUIRED ~ ALL PLANS, SURVEYS, ENGINEERING, ZONING, PERMITS AND ANY OTHER INfORMATION CURRENU Y HEW BY OWNERS AND BANK WILL BE RELEASED TO BUYER UPON SALE. THESE ARE CURRENn Y AVAILABLE for REVIEW BANK IS AGREEABLE TO A WAN ASSUMPTION from OWNERS NOTE AND RESTRUCTURE IT TO REfLECT TODAYS INTEREST RATE AND NEGOTIATE NEW TERMS WITH BUYER

3 EXHIBIT A

4 EXHIBIT B Land Sales Location Map... Oakdale. v : W\'IlesIey R Pebblebrook :j., Estates' 15 b# /#iq./ BIJCrr-0'o '\'ol ~# ~"J....,./.' R."Ji-:T'" LAND Hollywood Rd NW 41 ~'6 ',!lj~.,.. O~ ~$J~. " LANDS 2011 Bolton Rd NW t;~. '. 78.'...Fulon county Airport-Br Field 70 LAND Northwest Dr NW G ~Adk~ sw land 1 274B Bankhead Hwy JlJW (p fett'j 'P~'l.~'" "It 0;' $'# "9 8olJldefll'.' Co ht ej 2005 Mcrosoft Co and/orits 13Q.:,51A ,.278,,, Gr 52A' 8ureau Of,.. ~, 528 'J..("1,53 Westview e P'ilr;.; 78 SUBJECT Q- Donald lee HoUoweU Pkwy NW.rwv 'l1addoll P'dr!, -. '.~. "'-. Rl1 NW' S"IITlPSon 51 NW :ecrcaiioo, Btrree'l.l Of A, :< 10t

5 EXHIBIT C FocalPoint _... ~' engineering 0iY0!=J.n;.. :TJ. RJ'. 'l't:-:; ea.tirr. (i=,",jg:a -- 13l l4:1o::ds.':t-: ~~I:D:C P'JIoI ~f;,!j 'u:=u:uq. I I I

6 EXHIBIT D - Scellerio 1 Total Number of Units 150 Plus 52,000 sq. ft. of commercial space ,000 *104,000 square feet *64 Pads I 3 Lots *52,000 square feet Site Acreage Land Cost $ 2,950, Development Costs Clearing Grading EnvIronmental Sanitary Sewer Storm Drain Water Paving & Curb Water Control Detention Landscaping Electric Gas Utilities Street Facifities Utilities Lights Fencing Demolition f SIte Cleanup Permit Fees NPDES Monitoring Management Fee Surveying & Platting Contingency Total Development Costs $ 55, S 350, $ 75, S S 165, S 155, S Included in Environmental Costs $ 175, S 55, S 10, $ 10, $ 15, $ 15, S 95, S 15, $ 20, S 100, S 42, S 100, S 1,873, Other Costs Interest Engineering Attorneys' Fees Other costs Total Other Costs Total Costs S 663, $ 5, S 758, S 5,581, % for 18 mths ; $486, in interest 9% for 12 mths::; $177, in interest Revenue Total Sales S 47, $ 50, $ 52, S 50, $ 52, S 55, $ 57, S S S $ S 7.865, $ 8.370, $ 8, $ 9,380, Total Profit S 2.283, S S 3, S 3.798, Proiect Return % 41% 50% 59% 68% Hollowell Park (Development Pro Forma - Last Revised OS )

7 EXHIBIT D - Scenerio 2 Total Number of Units 150 Plus 52,000 sq. ft of commercial space , ,000 square feet "64 Pads I 3 Lots "52,000 square feet Site Acreage Land Cost $ 3,600, Development Costs Clearing Grading Environmental Sanitary Sewer Storm Drain Water Paving & Curb Water Control Detention Facilities Landscaping Electric Utilities Gas Utilities Street Lights Fencing Demolition I Site Cleanup Permit Fees NPDES Management Surveying Contingency Monitoring Fee & Platting Total Development Costs S 55, $ 350, $ 75, S 195, S 165, $ 155, $ 225, Included in Environmental Costs S 175, $ 55, $ 10, S 10, S 15, S 15, S 95, $ 15, $ 20, s 100, S 42, $ 100, $ 1,873, Other Costs Interest Engineering Attorneys' Fees Other costs Total Other Costs $ 663, $ 5, S 758, % for 18 mths = $486, in interest 9% for 12 mths = $177, in interest Total Costs $ 6,231, Revenue Total Sales Total Profit Project Return % $ 45, S 47, $ 50, $ 52, S 50, $ 52, $ 55, $ 57, S $ $ $ $ 7,865, $ 8,370, $ 8,875, $ 9,380, $ 1,633, $ 2,138, S 2,643, $ 3,148, % 34% 42% 51% Hollowell Park {Deve!opment Pro Forma - Last Revised ).:<ls